We are seeing more enterprises than ever look at or already use blockchain, be it to track supply chains and logistics, prove the origin of goods for traceability or as a platform for payment services. We also have more governments discussing and issuing national digital currencies, many of which are based on blockchain.Find out :b3i.tech/

In addition, we have seen more fraudsters targeting investors with ICO scams, where they will create an ICO to raise money for a project, and then disappear with the funds invested. We have a number of barristers at St Pauls Chambers who are experienced in these cases and can provide advice on the complex legal issues involved.

The Most Influential Blockchain Voices in the UK

The government recently announced it wants the UK to be a global hub for crypto-asset innovation. To help with this, HM Treasury and the Financial Conduct Authority launched a Cryptoasset Taskforce in 2018. Its first legal statement[xiv] concluded that, for purposes of the law of England and Wales, crypto-assets are property and that they can be owned, transferred, assigned, and made the subject of security interests.

In addition, the FCA has started to hold TechSprint events[xv] to gather views from market participants and others to help explore potential UK policy solutions for the regulation of crypto-assets. The latest, held in June 2022, looked at how to make sure crypto-asset businesses manage the risks of money laundering and countering terrorist financing. It also considered whether to regulate how such businesses manage client assets.